Stocks Snap Back With Nerves Frayed Ahead of PCE: Markets Wrap
- Retail traders revert to bearish view as stock rally hits wall
- Dimon says the US economy is facing some ‘scary stuff’ ahead
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Stocks rose in a jittery session before inflation data that will help shape the views on whether a soft landing is still on the table amid the Federal Reserve’s most-aggressive tightening drive in a generation.
After erasing a rally of almost 1%, the S&P 500 came back up — halting a four-day rout. The index regained its 4,000 mark breached earlier this week in a fight to stay above a key uptrend line from the October low. The Nasdaq 100 outperformed as huge names like Microsoft Corp. and Apple Inc. rebounded and Nvidia Corp. soared 14% on a bullish forecast.